Prices Slip Slightly But No Cooling Down For Seattle

Median home sale prices actually declined from June to July in some parts of the metro Puget Sound region, but other indicators show that unlike the weather, the housing market isn’t cooling off. New numbers out Wednesday from the Northwest Multiple Listing Service (NWMLS) show the median July sales price of single-family homes had a…




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MLS Market Update: August 2015

Pent-up demand boosting Western Washington home sales and prices Pent-up demand continues to fuel home sales around Western Washington with millennials, military families and relocating workers vying for limited inventory. Brokers from Northwest Multiple Listing Service say they’re not seeing a typical summer slowdown.Commenting on a new report from Northwest Multiple Listing Services summarizing July…




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Seattle Zoning Update & Windows To Rule Them All

Seattle’s single-family zones will not be changed to allow two- and three-unit buildings. At least not before there is a “renewed public dialog.” Mayor Ed Murray issued a statement Wednesday announcing that he will not take the Housing Affordability and Livability Agenda committee recommendation and change the definition of a single-family zone. Seattle mayor: We…




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Will Loan Limits & Seattle Density Increase? Oh And The Sweet New Hawks Plane From Boeing

Jumbo mortgages for single-family residences exceed $417,000 in most parts of the country and $625,500 in high-price markets. But with home prices climbing back to prerecession peaks in some markets, baseline jumbo thresholds may be raised for the first time in a decade. Mortgage Limits May Increase – WSJ Will there be less room for…




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Game Changers, Median Price Up, Inventory Down & ‘Up’ House May Go Down

The U.S. Supreme Court’s 5-4 decision on Friday not only opens the doors to legal same-sex marriage throughout the 50 states—it will also help increase homeownership among LGBT couples. That’s a lot of buying power, and legal marriage will only make it stronger. With home prices rising and mortgage requirements increasingly stringent, two incomes are pretty much required to…




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MLS Market Update: July 2015

Home sales sizzling around Western Washington, with volumes reaching 10-year high Temperatures around Western Washington were not the only thing sizzling during June. Northwest Multiple Listing Service members reported 11,453 pending sales last month, the highest volume since August 2005 when members notched 11,546 mutually accepted offers. Last month also marked the fourth consecutive month…




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Ain’t A Bubble & Buy A Rental

The residential real estate market, now at its midpoint in 2015, is on track for its best year since the peak of the housing bubble in 2006, notes realtor.com® chief economist Jonathan Smoke. But as Smoke is quick to point out, this time it’s not a housing bubble. That’s because job growth is fueling the…




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Tight Inventory… Still

The number of condo and house sales in the central Puget Sound region jumped 15 percent last month over the previous year, even as the number of residences for sale dropped precipitously. The result: an even tighter housing market with home prices climbing at more than 9 percent, according to data the Northwest Multiple Listing…




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MLS Market Update: June 2015

Northwest MLS brokers say home buyers are sprinting, but sellers are stalling Home buyers are in “full sprint” mode while sellers are stalling, according to brokers from Northwest Multiple Listing Service. As a result, MLS members are juggling severe inventory shortages and multiple offers in many Seattle neighborhoods and beyond. MLS figures for May show…




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Seattle Home Prices , Rents & Interest Rates Rise Again…

America’s Most Overpriced Cities In 2015 – Forbes Sitting at #16. Seattle, Wash. MSA: Seattle-Bellevue-Everett, WA Median Income: $86,027 Q4 2014 median sales price: $360,000 Housing affordable at median family income: 51.2% Cost Above National Average: Groceries: 5.8%; Utilities: -4.1%; Transportation: 9.8%; Health: 18.7%; Misc.: 8.9% Seattle home prices increase faster than almost every other…




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Low Inventory & Dawgs Work To Fix Housing

Home sales will pick up to a solid 5.3 million this year and are expected to hit 5.5 million next year, but until inventory constraints improve, the country’s large pent-up demand for home sales can’t be met, NAR Chief Economist Lawrence Yun said at the 2015 REALTORS® Legislative Meetings & Trade Expo in Washington, D.C. Overall,…




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MLS Market Update: May 2015

Pent-up demand triggering record pace of home sales around Western Washington Northwest Multiple Listing Service members notched a record high level of pending sales during April, surpassing the year-ago volume by nearly 1,800 transactions. Both closed sales and prices also surged last month as the spring market kicked into high gear. Buyer confidence and buyer…




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Rising Rents, Habitat Goes Multi & Helping Your Kids

With housing prices increasing so rapidly in Seattle, property owners are cashing in by selling their apartment buildings to developers who expect to charge higher rents. So while developers can be to blame, the fate of these buildings is set the moment they’re sold at market value. Why This Rickety Building Lost The Fight Against…




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Silicon Seattle

Many of these offices are planning to hire thousands of engineers… Is Seattle Silicon Valley’s Next Favorite Stop? – Tech Crunch Why is Seattle the fastest-growing city in the U.S.? – PSBJ Seattle Children’s plans 13-story downtown research facility – PSBJ Surging Puget Sound-area home prices give sellers all the power – PSBJ Here’s how…




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Millennials In, Pete Carroll Out & The Amazon Boom

It seems that Seattle is about to edge out San Francisco in one metric — but it’s not necessarily one the Emerald City wants to be known for. The greater Seattle metro area has the lowest supply of homes for sale ever recorded. Supply of Seattle-area homes hits lowest point ever recorded – Puget Sound…




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Home Prices Jump, Spike & Sizzle

The median price of Seattle homes sold in March rose 18.9 percent over the year to $535,000 – The biggest jump in at least five years. Home prices in Seattle jump 18.9 percent from year ago – Seattle Times Puget Sound sees historic spike in home prices – KOMO 4 Home prices sizzle in a…




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Growth Growth All Over the Place From Over Seas and Across the Lake

Signs, signs, everywhere a sign. Everywhere a land-use sign. Those white “Notice of Proposed Land Use Action” billboards have been sprouting all over town to the point they have become Seattle’s official flower. Growth gone wild? Website map pins it down – Seattle Times Seattle vs. the Eastside: What’s driving Expedia’s big regional relocation –…




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MLS Market Update: April 2015

Frenzied Market Frustrating Buyers KIRKLAND, Washington (April 6, 2015) – Buyer anxiety is rising as the pace of home sales is faster than brokers are able to replenish inventory, according to members of Northwest Multiple Listing Service. Figures just released for March show 11,408 pending sales during the month while only 10,505 sellers listed their…




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Habitat Energy Audits, High House Prices & Renter Frustration

Congratulations, Seattle. You got a raise. The bad news is that during roughly the same time, your median home prices shot up three times more than your “big” salary boost. Waiting for Seattle housing prices to drop? Good luck with that – PSBJ Mortgage Rates Drop Even Lower This Week – Freddie Mac Its (Finally!)…




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Rates Going Up, Rates Going Down, 3% Down & Make Friends in Sammamish

Freddie Mac will begin offering mortgages with down payments of only 3 percent — the first time they’ve been this low on the GSE’s loans in nearly five years — starting March 23. The move is expected to make more credit available to entry-level borrowers. Freddie’s 3% Down Payments Start Next Week – Freddie Mac New…




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Freddie’s Outlook, Maps & Tips

Freddie Mac released today its U.S. Economic and Housing Market Outlook for March, highlighting some of the positive tailwinds at the start of the spring home buying season. Outlook Highlights Expect 2015 to be the best year for home sales and new home construction since 2007 when total home sales were about 5.8 million for the…